On March 6, 2025, during its press conference, the European Central Bank (ECB) confirmed its intention to continue the digital euro project, with a deadline set at October 2025.
Europe wishes to set up the digital euro
Will we soon have a digital currency in Europe? If this advance still seems far away, Christine Lagarde, president of the ECB, expressed itself on the digital euro At a press conference on March 6, 2025. She notably recalled that this project is not a recent initiative, but the fruit of several years of work, and announced that it should accelerate in the coming months.
“We hope to campaign enough to all stakeholders – the European Parliament, the European Council, the European Commission – so that we can ultimately, not put an end to this digital euro, but realize it »»said Christine Lagarde.
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A date was thus given: “The deadline for us will be October 2025 »». More specifically, October 2025 is the date referred to for the end of the currency test phase.
However, the project cannot be done as long as the European Parliament, the Council and the European Commission do not give their green light. But all the deputies are not convinced: four of the eight groups of the European Parliament have expressed serious reserves on the digital euro with The recent breakdown of the Target 2 system This March 10, which allows banks to transfer money to euros instantly.
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A strategic opportunity against the United States
First of all, this digital euro project represents a response to US dollar supremacy in the economyespecially the digital economy. The ECB has notably presented it as an alternative to stablecoins backed by the dollar, increasingly used and supported by the government of Donald Trump.
If the European Union manages to get some advance, it could Strengthen the influence of the euro In international digital payments and reduce its dependence on the dollar.
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If the digital euro materialized in 2025, it could establish itself as a viable alternative for cross -border transactions, particularly in the euro zone. However, it will first be necessary to overcome certain challenges such as privacy, competition with private stable and adoption by the general public.
While Trump signed this March 10 a decree aimed at strengthening American leadership in digital financial technology, it remains to be seen whether the European Union will be able to reply without hesitating too much.
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Source: BCE press conference
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After training in journalism, I worked for a few years in general press before discovering the world of personal finance and the scholarship. Fallen into cryptos since 2020, I am particularly interested in the decryption of news that influence the Cryptos markets. My goal? Always teach my readers more by providing the most precise and the most just possible information.
Justine Ferrari
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